Using common social media tactics to subvert US elections
NEW YORK (AP) — The latest efforts to disrupt the U.S. midterm elections through Facebook manipulation seem to be following a persuasion playbook refined by legitimate companies and organizations, but with a twist. Their aim is to draw in as many people as possible with emotional appeals and then spur them to action. In this case, though, the action is public protest rather than affinity marketing, and the goal is to sow dissension rather than to build brand awareness.
Turkish leader talks big, but can be pragmatic in crises
ISTANBUL (AP) — The Turkish president is handling the country's currency crisis and feud with the United States with the same combative rhetoric that powered him through other grave challenges in his 16 years as the increasingly authoritarian leader of a key NATO ally. But Recep Tayyip Erdogan is also a pragmatist who badly needs a way out of a standoff that threatens his outsized ambitions for the once-thriving Turkish economy.
Royal Bank of Scotland fined $4.9B for housing bubble role
Royal Bank of Scotland will pay a $4.9 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble that ultimately led to the 2008 financial crisis. The Justice Department says in a statement Tuesday that the penalty is the largest it has imposed for financial crisis-era misconduct at a single company.
Home Depot roars back in the second quarter
ATLANTA (AP) —Home Depot handily beat expectations during the second quarter, bouncing back from a slow start to the year when terrible weather cooled construction projects. The world's biggest home improvement retailer boosted its full-year profit and revenue forecasts Tuesday. Higher mortgage rates combined with steadily rising real estate prices have dampened home sales this summer despite the robust economy and job market, but Americans continue to plow money into the places where they live.
EPA challenged rationale for administration mileage freeze
WASHINGTON (AP) — Internal documents show the Environmental Protection Agency privately questioned the Trump administration's finding that freezing Obama-era mileage standards would make drivers safer. In announcing the mileage proposal, the administration said the freeze would save 1,000 lives a year. But in a June email, the EPA told the Department of Transportation that it would slightly increase highway deaths.
German economy defies trade gloom with strong growth
BERLIN (AP) — Official data show that the German economy accelerated slightly in the second quarter to grow by 0.5 percent compared with the previous three-month period, performing a little better than economists had expected. Germany's economy, Europe's biggest, grew 0.4 percent in the first quarter — a figure that was revised upward Tuesday from the initial reading of 0.3 percent given in May. Economists had forecast a 0.4 percent increase this time.
Coca-Cola investing in sports drink maker BodyArmor
NEW YORK (AP) — Coca-Cola is taking an ownership stake in sports drink maker BodyArmor. It's the latest move by the world's biggest soda maker to diversify its offerings and keep up with changing tastes. The company also owns Powerade, while rival PepsiCo makes the more popular Gatorade.
Kroger to sell its goods to Chinese shoppers through Tmall
NEW YORK (AP) — Kroger will start to sell some of its products to Chinese shoppers through a website owned by internet giant Alibaba. It's the latest move by the Cincinnati-based supermarket chain to boost its digital business as it works to catch up with Walmart and Amazon.com, which bought grocer Whole Foods last year. In recent months, Kroger launched an online delivery service, upped its investment in a British online grocer and agreed to buy a meal-kit company.
Tinder founders, execs file suit against IAC and Match Group
NEW YORK (AP) — The founders of the dating app Tinder, along with current executives and some of its employees, filed a lawsuit Tuesday against IAC/InterActiveCorp and its Match Group subsidiary for allegedly bilking them by manipulating financial information to create a lowball estimate of Tinder's value. They are seeking at least $2 billion in the lawsuit against Match and IAC, which is controlled by media mogul Barry Diller. IAC and Match are calling the lawsuit "meritless."
The S&P 500 index climbed 18.03 points, or 0.6 percent, to 2,839.96. The Dow Jones Industrial Average gained 112.22 points, or 0.4 percent, to 25,299.92. The Nasdaq composite added 51.19 points, or 0.7 percent, to 7,870.89. The Russell 2000 index advanced 17.26 points, or 1 percent, to 1,692.58.
Benchmark U.S. crude slipped 0.2 percent to $67.04 per barrel in New York. Brent crude, used to price international oils, dipped 0.2 percent to $72.46 per barrel in London. Wholesale gasoline picked up 1 percent to $2.03 a gallon. Heating oil lost 0.4 percent to $2.13 a gallon. Natural gas rose 1 percent to $2.96 per 1,000 cubic feet.